While sales of printers are dropping faster than Donald Trump’s popularity, HP has splashed out and written a $1.05 billion cheque for Samsung’s printer business.
The move gives it the strongest A3 printer portfolio on the market along with 1,300 researchers and engineers joinomg HP from Samsung – along with 6,500 printer patents.
HP CEO Dion Weisler said: “As we ignite a renaissance in printing, we’re thrilled to bring together the industry’s best and brightest talent.
“Together we will build on more than 30 years of print leadership to accelerate our strategy, disrupt new market opportunities, and provide our customers and partners with unique and highly innovative print solutions.”
HP thinks that the A3 market is now the biggest opportunity in the printer space, worth an estimated $55 billion.
As part of the acquisition, Samsung will make an equity investment of between $100 million and $300 million in HP through open markets. Figures released last week suggested that the only place in the world were printer sales had not dropped was the UK – where they stayed the same.
